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Planning and Business Executive Team Business Game Report

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Introduction

Planning and Business Executive Team Business Game Report "Executive Team" is a business game in which we have been involved over six weeks; the business game consisted of 4 teams who formed 4 companies to compete in 5 separate trading areas. The game is an interactive game in which the decisions of 1 company have an impact on the other teams positioning as well as their own. Each team has a home trading area, these are areas 1 to 4 and there is a common area, area 5. All of the companies are free to trade in all of the areas. The advantage of trade in the home area is that transport prices are lower. We participated in the game for 6 weeks and had 7 periods in which we made decisions. The team in which I played was company 4 at the start of the game our objectives were as follows: * To get out of loss and into profit * To try and bring down the cost per unit and create a more efficient production line, which in turn would boost profits * To aim to have optimum stock sales therefore creating efficiency and reducing storage costs. In this report I am going to asses the decisions made and the implications of those decisions in the areas of pricing policy, marketing and product policy, production policy and transport and distribution policy, I am going to assess the decisions and their impact period by period. We had a simple approach to pricing policy we decided that we would use our price along with marketing to maximise our sales we used the first week to decide which areas we felt we wanted to up sales in and to decide which areas where we thought sales were at an acceptable level. ...read more.

Middle

too much so had to increase price in 2 areas, at this point we decided that the home area, 4, reacted best to price drops it sold more at a lower price so in this area we decided marketing wasn't a huge impact and reduced marketing whilst keeping the price low at 58. Area 5, the common area still seemed to sell well when the price increased so we decided that in this area our product was possibly a necessity and so people didn't mind what they had to pay for it therefore we increased the price to 59 and kept marketing at 800. We found 58 was a comfortable price for area 3 in period 2 and so decided it was best to stick at the price as it was bringing us more sales and this is what we wanted, a fast stock turnover and low storage cost, as this had already proved successful we also kept marketing at the same level. Area 1 we found reacted well to the price drop and marketing in period 2, however we weren't entirely sure whether it was more price or marketing reactive so we upped marketing to our highest level 1200 and kept price at 58 so we could compare the results of this period and last period to see if it was the marketing which was beneficial. Area 2 again we weren't convinced what the market where reacting to and we thought that if we boosted the marketing it would boost sales so we upped marketing and price together and as a resulted we saw a sudden rise in sales. In period 4 we produced our highest amount ever, 925 units, this was the full capacity of what we could produce and we did it because ...read more.

Conclusion

Also we were producing maximum capacity and so managed to get our cost per unit price down to 29.39 in period 7 with 36.7 being our highest cost per unit in period 2 (see appendix. 7). We had optimum stock sales in two periods we sold all stock and therefore had no storage costs, in 4 periods we had 60 or less units in closing stock and only in the final period we had over 100 units left in stock. Our sales income rose over the 7 periods, reaching its peak in period 6 and our sales never dropped below 775 at the lowest and reached their highest, 959 in period 5. Overall our company has been very successful and this can be seen by looking at the graphs and tables in the appendices. In comparison to the other companies, by the end of period 7 we had the highest level of cash and debtors, also the highest cumulative retained earnings, also the highest amount of sales income after cost of sales and the second to lowest cost per unit, which we found surprising as we were the only company who didn't increase our plant capacity to 12000. Our decisions have been very successful and left our company in the lead at the end of the game, our decision not to increase capacity meant we were on an even keel. If I was to play the game again I would make all the same decisions except for in transport, I would calculate more accurately how much transport is needed and invest more money in vehicle purchase than in hire as this helped to save money and therefore left us with higher profits. ?? ?? ?? ?? Kathryn Bond @00108238 ...read more.

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